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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Mihinair,a ‘potty loss’ of Rs. 938 mn for last year!

Mihinair,a ‘potty loss’ of Rs. 938 mn for last year!

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marusira


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Sri Lanka’s white elephant Mihin Lanka airlines which had since its advent has been suffering colossal losses for the last five years running into many billions had once again incurred a loss of Rs. 938 million last year . Its total losses since its inauguration is a staggering Rs. 5975 million ! These details were revealed in Parliament on the 9th by Minister for civil aviation in answer to JVP Parliamentary group leader Anura Kumara Dissanayake.

The ‘miraculous’ Mihinair was a ‘ miraculous’ brainchild of empty garrulous Percy Mahinda Rajapakse , the President of SL who after the launching of the Mihinair five years ago hoped to make it a part of his ‘ Asia’s miracle’ dream . But now the ‘miraculous ways and methods’ adopted by him unleashing endless and ever growing anarchy in the country is sure going to make SL an Asia ‘s debacle not miracle , according to political analysts .

According to the Minister ,the MihinLanka has explained , this colossal loss ( in his view, a ‘trivial loss’ ) is because of heavy capital investment and that fuel prices have shot up . His ‘trivial losses’ are given hereunder :

2006-2007 - Rs. 195 million
2007-2008 - Rs. 3160 million
2008-2009 -Rs. 1300 million
2009-2010 - Rs. 1221 million
2010-2011 - Rs. 938 million

During the last five years people’s monies have been wastefully invested as follows:





2006-07 - Rs. 295 million
2007-08 - Rs. 500 million
2008-09 - Rs. 500 million
2009-10 - Rs. 3000 million
2010-11 - Rs. 1680 million

On this basis Mihinlanka has wasted about Rs. 6864 million of people’s funds during the five years , and suffered losses to the tune of Rs. 5975 million. This same Minister to whom loss of a colossal sum in billions is a ‘trifling issue’ said, next year this same white elephant MihinLanka is going to purchase another three aircrafts for which a further sum of Rs. 1700 million had been passed



Last edited by rijayasooriya on Sat Nov 12, 2011 4:09 pm; edited 1 time in total (Reason for editing : title shortened.)

swan03


Vice President - Equity Analytics
Vice President - Equity Analytics
What on earth happening to this country?

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Who will raise the voice against these inefficiencies? Even raised unfortunately no one is listening.

" People talking without speaking
People hearing without listening" .....idyllic truth..isnt it?

As long as citizens are willing to fill empty coffers of state over generations this cycle will be going on. Time will cone one day that someone will close the big hole made under the coffers by cutting visible & invisible hands.




kuk83

kuk83
Manager - Equity Analytics
Manager - Equity Analytics
Funny thing is this "bulls" going to take over loss making pvt companies and going to turn profit . Very Happy

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
@kuk83 wrote:
Funny thing is this "bulls" going to take over loss making companies and going to turn profit . Very Happy

" loss making companies"
That also is a contradiction. SUGA and Sevanagala made profit for sure as I know. Will they turn to loss now

Sasanka De Silva

Sasanka De Silva
Manager - Equity Analytics
Manager - Equity Analytics
Bravo......... Rolling Eyes

Tiger

Tiger
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Privatise loss making entities......

chamith

chamith
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Like I said before the government has no accountability to the tax payer's money. Tax payers should step up and ask what are they doing to the tax money.

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@chamith wrote:Like I said before the government has no accountability to the tax payer's money. Tax payers should step up and ask what are they doing to the tax money.
It is easier said than done here !!! Sad

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
No worries at all. Vast mojority of patriotic intelligent Sri lankan voters approve all this to a point, as such there is no oppossition party.

marusira


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics


" People talking without speaking
People hearing without listening" .....idyllic truth..isnt it?


B'coz people don't like 2 wear the JUMPPER(prison) Very Happy Very Happy Very Happy Very Happy

marusira


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@worthiness wrote:

" People talking without speaking
People hearing without listening" .....idyllic truth..isnt it?







B'coz people don't like 2 wear the JUMPPER(prison) Very Happy Very Happy Very Happy Very Happy

mark

mark
Expert
Expert
you have only one option...

vote again and again,let them to control,just sit back.,relax..

bcz evrything under executive,you are nothing..

Rajitha

Rajitha
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@swan03 wrote:What on earth happening to this country?

Well a well known family in Sri Lanka is contesting for the Wealthiest and most powerful family in the world and this is just a small step in it!

bakapandithaya

bakapandithaya
Vice President - Equity Analytics
Vice President - Equity Analytics
Mihin Air - Ahasa apata, EPF salli.............. ewarai. ekmanata wayasata gyoth hondai. thawa owrudu 4,5kin EPF kiyala akak ne Sad



a_randy

a_randy
Manager - Equity Analytics
Manager - Equity Analytics
Economy Colapsing.. Sad

ranjanie


Manager - Equity Analytics
Manager - Equity Analytics
"Muhuden wathura dothak gattata aduwak danenne nethoooooooooooooo."

swan03


Vice President - Equity Analytics
Vice President - Equity Analytics
Aasiyawe Ashcharya!!

Rajaraam


Vice President - Equity Analytics
Vice President - Equity Analytics
I think we are on a dead end.

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Rajaraam wrote:I think we are dead .
Very Happy

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